A sum of ₹17,200 is lent out at simple interest in two parts for 2 years at 8% p.a. and 10% p.a., respectively. If the total interest received after 2 years is ₹3,008, then the money lent (in ₹) at the rate of 8% p.a. is :
Answer & explanation
Correct answer: option 4
Total Principal = 17200 Rs
17200 is divided into two parts same at 8% and same part is at 105 per annum.
Interest = 3008 for 2 years
Interest for 1 year = \(\frac{3008}{2}\)
= Rs 1504
If both part is at 8%
So Interest = 8% of 17200
= 1376 Rs
17200 I II
8% 10%
8%+2%
Extra Interest = 1504-1376
= 128 Rs
ATQ
2% = 128
1% = 64
100% = 6400
So Principal P2 = 6400
Interest = 17200-6400
= Rs 10800